This continuous quarrel about ETH makes me think deeply about it. There are, not sure but I think, over 6000 cryptocurrencies over there and the significant part of them ERC token. This means there is a strong base coming from ETH. However, these projects create a dumping point for the ETH since their ICOs and sales are making with ETH. Is this going to be a strong ground but lower price vicious circle situation? Will there be a chance for ETH to rise beyond its ATH?
Of course there's always that possibility. You have to understand that everything is based on speculation here and last year was different. There were a lot of ETH dumping last year as well but it was not clearly evident because we're in a bull market. But this time its different, every dump is really showing and we felt the effect. But in any cases, if ETH bounce back then I'm sure that it can go and reach all-time-high again.
personally don't think any token or coin will replace ETH soon but... There is a strong but here.
Yes, ETH based project will continue and I don't think we can see any replacement for that in the next coming years.